Australian Open may lose its Grand Slam status?

Tennis Australia fears that the Australian Open may lose its Grand Slam status because of two reasons:

1) Melbourne Park needs to be invested in; it has now fallen behind it’s Grand Slam counterparts based on a recent report undertaken into the facilities at Melbourne Park
2) a possibility of another Grand Slam event in the Asia Pacific region

With considerable financial influence and pressure coming from Asia and the Middle East, Tennis Australia is requesting $300 million of government funding to upgrade Melbourne Park. Tennis Australia, has expressed concerns that it is not only a possibility that the Australian Open may lose its Grand Slam status unless something is done regarding the facilities, but may also find another Grand Slam event introduced in the Asia Pacific region, therefore decreasing the profile of the event.

The Australian Open has been upgraded only very little since the introduction of the Vodafone arena in 2000, while all the other Grand Slams spent $195 million during the past two financial years on their tennis centers. (via BlogSport)